4. After the quasi-reorganization, the total shareholders' equity should be? * Adverse financial and operating circumstances warrant that BLACK PANTHER Corporation undergo a quasi- reorganization on December 31, 2021. The following information may be relevant in accounting for the quasi- reorganization: a. Inventory with a fair value of P1,000,000 is currently recorded in the accounts at its cost of $1,500,000. b. Plant assets with a fair value of P3,000,000 are currently recorded at P4,000,000, net of accumulated depreciation. C. Unrecorded accounts payable amount to P300,000 d. e. f. Individual shareholders contribute P1,500,000 to create additional paid-in capital to facilitate the reorganization. No new shares pass to the company's shareholders. The par value of the share capital is reduced from 100 to P50. Immediately before these events, the shareholders' equity section appears as follows: Share capital, 100 par value, 50,000 shares Share premium Retained earnings (deficit) * 5,000,000 500,000 (2,000,000)